First Gen-owned Energy Development Corporation (EDC) is reinforcing call on policy leaders to accelerate the phase out of coal plants, similar to what is happening in other parts of the world. EDC Logo That call is in line with the world’s target to limit planet warming to 1.5 degrees as...
Echoing ‘code red’ alarm on the escalated global warming, leading renewable energy developer Energy Development Corporation (EDC) is reinforcing calls for the country to accelerate its energy mix transition to cleaner energy technologies -- primarily renewable energy and the electrification of...
Lopez-led First Gen Corporation sustained its robust profitability and that enabled it to post 11-percent net income hike in the first half to P7.1 billion ($148 million) versus a leaner P6.7 billion ($133 million) in the same period last year. The company’s rise in earnings, according to First...
Lopez-led Energy Development Corporation (EDC) listed on Friday (June 25) with the Philippine Dealing and Exchange Corporation (PDEx) the P5.0 billion first tranche of its ASEAN green bonds. The issue, which has been oversubscribed due to buoyed interest of investors, is part of the P15 billion...
The targeted P15 billion proceeds from the ASEAN green bonds issuance of Energy Development Corporation (EDC) will bankroll the expansion projects being lined up by the company. The shelf registration of EDC’s green bond issuance had already secured the approval of the Securities and Exchange...
Lopez-led Energy Development Corporation (EDC) will be injecting fresh investment of P7.0 billion for a 29-megawatt expansion project at its Bacon-Manito (BacMan) geothermal power facility in the Bicol region. The Palayan binary power facility’s advancement to construction officially broke ground...
The Duterte administration’s chief economic manager has called on lawmakers to support temporary increased in pork imports at lower tariff rates to address the scarcity in the domestic supply of hog meat. Finance Secretary Carlos G. Dominguez III said the lower import tariffs and higher the...
Lopez-led Energy Development Corporation (EDC) has handed over P4.16 million electrification fund to Negros Oriental I Electric Cooperative (NORECO I), a power utility servicing the host community of the power generation firm. The company said the fund remittance is part of the province’s...
Lopez-led Energy Development Corporation (EDC) has tapped California-headquartered GreenFire Energy Inc. for the commercial retrofit of geothermal wells to optimize steam production for its Manahagdong geothermal power facility in Leyte province. The retrofit work for the plant to be carried out by...
Lopez-led First Gen Corporation was considerably in auspicious state last year on its financial performance, as its earnings had just declined by marginal 7.0-percent to P13.7 billion (US$276 million) from P15.4 billion (US$296 million) in 2019. “The company managed the challenges that arose...
Energy Development Corporation (EDC) is planning to issue P3 billion worth of Green Bonds with an oversubscription option of up to P2 billion. Philippine Rating Services Corporation (PhilRatings) said it has assigned its highest issue credit rating of PRS Aaa, with a Stable Outlook, for...
Lopez-led Energy Development Corporation (EDC) is scheduling P15 billion worth of bond issuance under its maiden “green bond framework”, of which proceeds will be used to bankroll new renewable energy (RE) projects as well as to refinance loans for existing RE facilities. The company said its...
